TCR_Public/060318.mbx          T R O U B L E D   C O M P A N Y   R E P O R T E R

             Saturday, March 18, 2006, Vol. 10, No. 66

                             Headlines

ASARCO LLC: Earns $21.6 Million of Net Income in January 2006
DELPHI CORPORATION: Incurs $121 Million Net Loss in January 2006
FLYI INC: Earns $893,058 of Net Income in January 2006
FLYI INC: Independence Posts $1.3 Million Net Loss in January 2006
INTERSTATE BAKERIES: Incurs $5.5 Million Net Loss in January 2006

PLIANT CORP: Incurs $8.9 Million Net Loss in January 2006
TOWER AUTOMOTIVE: Incurs $15 Million Net Loss in January 2006
WINN-DIXIE: Incurs $15.8 Million Net Loss in February 2006

                             *********

ASARCO LLC: Earns $21.6 Million of Net Income in January 2006
-------------------------------------------------------------

                        ASARCO LLC, et al.
                          Balance Sheet
                     As of January 31, 2006

ASSETS
    Current assets:
    Cash                                           $16,329,000
    Net accounts receivable                        107,133,000
    Inventory: lower of cost or market             198,686,000
    Prepaid expenses                                33,483,000
    Deferred income tax assets                               0
                                                 -------------
Total current assets                               355,631,000

Net property, plant and equipment                  420,300,000
Other assets
    Investment in subs                              74,153,000
    Prepaid pension and retirement plan             76,104,000
    Non-current deferred tax asset                  40,952,000
    Other                                          114,336,000
                                                 -------------
Total assets                                    $1,081,477,000
                                               ===============

LIABILITIES
Postpetition liabilities:
    Accounts payable                               $59,127,000
    Accrued liabilities                             10,330,000
    Debtor-in-possession financing                           0
                                                 -------------
Total postpetition liabilities                      69,457,000

Prepetition liabilities:
    Not subject to compromise - credit               1,016,000
    Not subject to compromise - other              133,309,000
    Subject to compromise                          870,486,000
                                                 -------------
Total prepetition liabilities                    1,004,811,000
                                                 -------------
Total liabilities                               $1,074,268,000
                                                 =============

OWNERS' EQUITY (DEFICIT)
Common stock                                      $508,325,000
Additional paid-in capital                         104,578,000
Other comprehensive income                        (144,217,000)
Retained earnings: filing Date                    (531,769,000)
                                                 -------------
Total prepetition owners' equity                   (63,083,000)
Retained earnings: post-filing Date                 70,292,000
                                                 -------------
Total owners' equity (net worth)                     7,209,000
                                                 -------------
Total liabilities and owners' equity            $1,081,477,000
                                               ===============


                        ASARCO LLC, et al.
             Consolidated Statement of Operations
                   Month Ending January 31, 2006

Sales                                              $80,595,000
Cost of products and services                       57,250,000
                                                 -------------
Gross profit                                        23,345,000

Operating expenses:
Selling and general & admin expenses                 2,969,000
Depreciation & amortization                          2,007,000
Provision accretion expense of asset
retirement obligation                                 143,000
                                                  ------------
Operating income                                    18,226,000

Interest expense                                        73,000
Interest Income                                       (434,000)
Reorganization Expenses                              1,214,000
Other miscellaneous (income) expenses               (4,737,000)
                                                 -------------
Income (loss) before taxes                          22,109,000
Income taxes                                           442,000
                                                 -------------
Net income                                         $21,667,000
                                                 =============


                        ASARCO LLC, et al.
            Consolidated Cash Receipts & Disbursements
                   Month Ending January 31, 2006

Receipts                                           $55,450,000
Disbursements:
Inventory material                                     (94,000)
Operating disbursements                             40,618,000
Capital expenditures                                 8,685,000
                                                 -------------
Total disbursements                                 49,209,000

Operating cash flow                                  6,241,000
Reorganization disbursements                         1,555,000
                                                 -------------
Net cash flow                                        4,686,000
Net payments to secured Lenders                              0
                                                 -------------
Net change in cash                                   4,686,000
Beginning cash balance                              11,643,000
                                                 -------------
Ending cash balances                               $16,329,000
                                                 =============

Headquartered in Tucson, Arizona, ASARCO LLC --
http://www.asarco.com/-- is an integrated copper mining,
smelting and refining company.  Grupo Mexico S.A. de C.V. is
ASARCO's ultimate parent.  The Company filed for chapter 11
protection on Aug. 9, 2005 (Bankr. S.D. Tex. Case No. 05-21207).
James R. Prince, Esq., Jack L. Kinzie, Esq., and Eric A.
Soderlund, Esq., at Baker Botts L.L.P., and Nathaniel Peter
Holzer, Esq., Shelby A. Jordan, Esq., and Harlin C. Womble, Esq.,
at Jordan, Hyden, Womble & Culbreth, P.C., represent the Debtor
in its restructuring efforts.  Lehman Brothers Inc. provides the
ASARCO with financial advisory services and investment banking
services.  Paul M. Singer, Esq., James C. McCarroll, Esq., and
Derek J. Baker, Esq., at Reed Smith LLP give legal advice to
the Official Committee of Unsecured Creditors and David J.
Beckman at FTI Consulting, Inc., gives financial advisory
services to the Committee.  When the Debtor filed for protection
from its creditors, it listed $600 million in total assets and
$1 billion in total debts.

The Debtor has five affiliates that filed for chapter 11
protection on April 11, 2005 (Bankr. S.D. Tex. Case Nos. 05-20521
through 05-20525).  They are Lac d'Amiante Du Quebec Ltee, CAPCO
Pipe Company, Inc., Cement Asbestos Products Company, Lake
Asbestos of Quebec, Ltd., and LAQ Canada, Ltd.  Details about
their asbestos-driven chapter 11 filings have appeared in the
Troubled Company Reporter since Apr. 18, 2005.

Encycle/Texas, Inc. (Bankr. S.D. Tex. Case No. 05-21304), Encycle,
Inc., and ASARCO Consulting, Inc. (Bankr. S.D. Tex. Case No.
05-21346) also filed for chapter 11 protection, and ASARCO has
asked that the three subsidiary cases be jointly administered with
its chapter 11 case.  On Oct. 24, 2005, Encycle/Texas' case was
converted to a Chapter 7 liquidation proceeding. The Court
appointed Michael Boudloche as Encycle/Texas, Inc.'s Chapter 7
Trustee.  Michael B. Schmidt, Esq., and John Vardeman, Esq., at
Law Offices of Michael B. Schmidt represent the Chapter 7
Trustee. (ASARCO Bankruptcy News, Issue No. 18; Bankruptcy
Creditors' Service, Inc., 215/945-7000).


DELPHI CORPORATION: Incurs $121 Million Net Loss in January 2006
----------------------------------------------------------------

                    Delphi Corporation, et al.
               Unaudited Consolidated Balance Sheet
                     As of January 31, 2006
                          (In Millions)

                              ASSETS

CURRENT ASSETS:         
   Cash and cash equivalents                             $1,290
   Accounts receivable, net:         
      General Motors and affiliates                       1,641
      Other third parties                                 1,556
      Non-Debtor subsidiaries                               285
   Notes receivable from non-Debtor subsidiaries            356
   Inventories, net:
      Productive material, work-in-process and supplies     878
      Finished goods                                        308
      Prepaid expenses and other                            180
                                                       --------
      TOTAL CURRENT ASSETS                                6,494
                                                       --------
Long-term assets:         
   Property, net                                          2,600
   Goodwill                                                  40
   Other intangible assets                                   41
   Pension intangible assets                                871
   Investments in non-Debtor subsidiaries                 3,048
   Other                                                    719
                                                       --------
      TOTAL ASSETS                                      $13,813
                                                       ========
          
              LIABILITIES AND STOCKHOLDERS' DEFICIT         

Current liabilities not subject to compromise:         
   Note payable to non-Debtor subsidiary                      2
   Accounts payable                                       1,006
   Accounts payable to non-Debtor subsidiaries              501
   Accrued liabilities                                      443
                                                       --------
   TOTAL CURRENT LIABILITIES                              1,952
                                                       --------
Long-term liabilities not subject to compromise:
   Debtor-in-possession financing                           250
   Employee benefit plan obligations and other              522
                                                       --------
   TOTAL LONG-TERM LIABILITIES                              772
                                                       --------
Liabilities subject to compromise                        17,460
                                                       --------
   TOTAL LIABILITIES                                     20,184
                                                       --------
Stockholders' deficit:         
   Common stock                                               6
   Additional paid-in capital                             2,677
   Accumulated deficit                                   (6,843)
   Minimum pension liability                             (2,053)
   Accumulated other comprehensive loss                    (106)
   Treasury stock                                           (52)
                                                       --------
   TOTAL STOCKHOLDERS' DEFICIT                           (6,371)
                                                       --------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT             $13,813
                                                       ========



                    Delphi Corporation, et al.
          Unaudited Consolidated Statement of Operations
                   Month Ended January 31, 2006
                          (In Millions)

Net sales:                 
   General Motors and affiliates                           $835
   Other customers                                          592
   Intercompany non-Debtor subsidiaries                      47
                                                       --------
Total net sales                                           1,474
                                                       --------
Operating expenses:                 
   Cost of sales, excluding items listed below            1,454
   Selling, general and administrative                       85
   Depreciation and amortization                             50
   Goodwill and long-lived asset impairment charges           -   
                                                       --------
Total operating expenses                                  1,589
                                                       --------
Operating loss                                             (115)

Interest expense                                            (30)
Other expense, net                                           (4)
                                                       --------
Loss before reorganization items,
   income taxes, and equity income                         (149)

Reorganization items                                         (2)
Income tax expense                                            -
Equity income from non-consolidated subsidiaries              5

Equity income from non-Debtor subsidiaries,
   net of tax                                                25
                                                       --------
NET LOSS                                                  ($121)
                                                       ========


                    Delphi Corporation, et al.
          Unaudited Consolidated Statement of Cash Flows
                  Month Ended January 31, 2006
                          (In Millions)

Cash flows from operating activities:         
   Net loss                                               ($121)
   Adjustments to reconcile net loss to net cash
    provided by operating activities:         
    Depreciation and amortization                            50
    Pension and other postretirement benefit expenses       126
    Equity income from unconsolidated subsidiaries, net      (5)
    Equity income from non-Debtor subsidiaries, net         (25)
    Reorganization items                                      2
   Changes in operating assets and liabilities:         
    Accounts receivable, net                                 85
    Inventories, net                                        (84)
    Prepaid expenses and other                              (40)
    Accounts payable, accrued and other long-term debt       66   
    Pension contributions                                   (58)
    Other postretirement benefit payments                   (17)
    Receipts (payments) for reorganization items, net        (1)
    Other                                                    (1)
                                                       --------
       Net cash used in operating activities                (23)
                                                       --------  
Cash flows from investing activities:         
   Capital expenditures                                     (30)
   Proceeds from sale of property                             1
                                                       --------
       Net cash used in investing activities                (29)
                                                       --------
Cash flows from financing activities:         
   Proceeds from revolving credit facility, net               1
   Proceeds from note payable to non-Debtor subsidiary        2
   Repayments of other debt                                  (1)
   Repayment of cash overdraft                              (22)
                                                       --------
       Net cash used in financing activities                (20)
                                                       --------
Decrease in cash and cash equivalents                       (72)
Cash and cash equivalents at beginning of period          1,362   
                                                       --------
Cash and cash equivalents at end of period               $1,290
                                                       ========

Headquartered in Troy, Michigan, Delphi Corporation --
http://www.delphi.com/-- is the single largest global supplier of     
vehicle electronics, transportation components, integrated systems
and modules, and other electronic technology.  The Company's
technology and products are present in more than 75 million
vehicles on the road worldwide.  The Company filed for chapter 11
protection on Oct. 8, 2005 (Bankr. S.D.N.Y. Lead Case No.
05-44481).  John Wm. Butler Jr., Esq., John K. Lyons, Esq., and
Ron E. Meisler, Esq., at Skadden, Arps, Slate, Meagher & Flom LLP,
represent the Debtors in their restructuring efforts.  Robert J.
Rosenberg, Esq., Mitchell A. Seider, Esq., and Mark A. Broude,
Esq., at Latham & Watkins LLP, represents the Official Committee
of Unsecured Creditors.  As of Aug. 31, 2005, the Debtors' balance
sheet showed $17,098,734,530 in total assets and $22,166,280,476
in total debts.  (Delphi Bankruptcy News, Issue No. 18; Bankruptcy
Creditors' Service, Inc., 215/945-7000)


FLYI INC: Earns $893,058 of Net Income in January 2006
------------------------------------------------------

                                FLYi Inc.
                       Consolidated Balance Sheet
                         As of January 31, 2006

ASSETS

Current assets
     Cash                                               $182,562
     Short term investments                            1,000,000
     Net accounts receivable                         379,627,553
     IC Notes receivable                               4,252,000
                                                   -------------
     Total Current Assets                           $385,062,115
                                                   -------------
Other assets
     Restricted cash                                          $0
     Long term investments                             7,435,000
     Property and equipment, net of depreciation             250
     Intangible assets                                         0
     Debt issuance cost                                        0
     Aircraft deposits                                         0
     Long term deferred tax                                    0
     Other assets                                     14,055,412
                                                   -------------
     Total Other Assets                              $21,490,662
                                                   -------------
     TOTAL ASSETS                                   $406,552,777
                                                   =============
LIABILITIES
Liabilities not subject to compromise                        $0
Liabilities subject to compromise
     Secured debt                                              0
     Priority debt                                             0
     Unsecured debt                                  244,526,299
                                                   -------------
     Total Liabilities                              $244,526,299
                                                   -------------
Owner Equity
     Common stock                                      1,088,716
     Additional paid in capital                      158,254,512
     Treasury stock                                  (35,717,477)
     Pre-petition retained earnings                   39,858,773
     Postpetition retained earnings                   (1,458,046)
                                                   -------------
     Net Owners' Equity                             $162,026,478
                                                   -------------
     TOTAL LIABILITIES AND OWNER'S EQUITY           $406,552,777
                                                   =============

                                FLYi Inc.
                        Statement of Operations
                             January 2006

Revenues                                                     $0
Other income and expenses
     Interest income                                     893,058
     Interest expense                                          -
     Other miscellaneous                                       -
                                                   -------------
     Net Profit(Loss)                                   $893,058
                                                   =============

Headquartered in Dulles, Virginia, FLYi, Inc., aka Atlantic Coast
Airlines Holdings, Inc. -- http://www.flyi.com/-- is the parent
of Independence Air Inc., a small airline based at Washington
Dulles International Airport.  The Debtor and its six affiliates
filed for chapter 11 protection on Nov. 7, 2005 (Bankr. D. Del.
Case Nos. 05-20011 through 05-20017).  Brendan Linehan Shannon,
Esq., M. Blake Cleary, Esq., and Matthew Barry Lunn, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in their
restructuring efforts.  Brett H. Miller, Esq., at Otterbourg,
Steindler, Houston & Rosen, P.C., represents the Official
Committee of Unsecured Creditors.  As of Sept. 30, 2005, the
Debtors listed assets totaling $378,500,000 and debts totaling
$455,400,000. (FLYi Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Service, Inc., 215/945-7000)


FLYI INC: Independence Posts $1.3 Million Net Loss in January 2006
------------------------------------------------------------------

                         Independence Air Inc.
                      Consolidated Balance Sheet
                        As of January 31, 2006

ASSETS

Current assets
     Cash                                            $14,710,316
     Short term investments                            6,300,000
     Restricted cash                                  11,357,330
     Net accounts receivable                          94,846,512
     Net expandable parts and fuel                     1,610,454
     Net prepaid expenses                             11,582,897
     Deferred tax asset                                       (1)
                                                   -------------
Total current assets                                $140,407,508
                                                   -------------
Other assets:
     Restricted cash                                 $17,925,791
     Property and equipment, net of depreciation      27,960,754
     Aircraft deposits                                21,912,000
     Other assets                                      1,855,933
                                                   -------------
Total other assets                                   $69,654,478
                                                   -------------
     TOTAL ASSETS                                   $210,061,986
                                                   =============
LIABILITIES

Liabilities not subject to compromise
     Accounts payable                                 $5,811,885
     Air traffic liability                             2,337,939
     Accrued liabilities                               4,740,510
     Amounts due to insiders                              36,000
                                                   -------------
Total postpetition liabilities                       $12,926,334
                                                   -------------
Liabilities subject to compromise
     Secured debt                                      3,016,675
     Priority debt                                       447,025
     Unsecured debt                                  420,014,418
     Other accruals                                   36,106,328
                                                   -------------
Total prepetition liabilities                       $459,584,445
                                                   -------------
Total Liabilities                                   $472,510,780
                                                   -------------
Owner Equity
     Common stock                                              -
     Additional paid in capital                                -
     Treasury stock                                    7,435,000
     Owner's equity account                                    -
     Pre-petition retained earnings                 (243,575,613)
     Postpetition retained earnings                  (26,308,180)
     Adjustment to owner equity                                -
                                                   -------------
Net Owner Equity                                    (262,448,793)
                                                   -------------
     TOTAL LIABILITIES AND OWNER'S EQUITY           $210,061,986
                                                   =============


                         Independence Air Inc.
                        Statement of Operations
                             January 2006

Revenues
Operating Revenue
     Passenger revenue                                $3,631,039
     Other revenue                                       212,533
                                                   -------------
Total operating revenues                              $3,843,572
                                                   -------------
Operating expenses
Insider compensation
     Wages                                            $4,438,938
     Fringes and benefits                              1,706,406
     Aircraft fuel                                     1,424,233
     Aircraft maintenance and materials                  663,527
     Traffic commissions                                (170,998)
     CRS fees                                             75,254
     Facilities rent                                   2,785,884
     Landing fees                                        137,996
     Depreciation and amortization                       516,594
     Others                                            1,620,058
     Retirement and restructuring charge              (7,120,412)
                                                   -------------
Total operating expense                               $6,077,480
                                                   -------------
Net operating income                                  (2,233,908)
                                                   -------------
Net Profit (Loss) before other income & expenses      (2,233,908)
                                                   -------------
Other income and expenses
     Interest income                                    (256,892)
     Interest expense                                   (873,996)
     Other miscellaneous                                      27
                                                   -------------
     Total other (income) expense                     (1,130,861)
                                                   -------------
Net Profit (Loss) before reorganization items         (1,103,047)
                                                   -------------
Reorganization items
     Professional fees                                  (248,638)
                                                   -------------
Net Profit (Loss)                                    ($1,351,685)
                                                   =============

Headquartered in Dulles, Virginia, FLYi, Inc., aka Atlantic Coast
Airlines Holdings, Inc. -- http://www.flyi.com/-- is the parent
of Independence Air Inc., a small airline based at Washington
Dulles International Airport.  The Debtor and its six affiliates
filed for chapter 11 protection on Nov. 7, 2005 (Bankr. D. Del.
Case Nos. 05-20011 through 05-20017).  Brendan Linehan Shannon,
Esq., M. Blake Cleary, Esq., and Matthew Barry Lunn, Esq., at
Young, Conaway, Stargatt & Taylor, represent the Debtors in their
restructuring efforts.  Brett H. Miller, Esq., at Otterbourg,
Steindler, Houston & Rosen, P.C., represents the Official
Committee of Unsecured Creditors.  As of Sept. 30, 2005, the
Debtors listed assets totaling $378,500,000 and debts totaling
$455,400,000. (FLYi Bankruptcy News, Issue No. 14; Bankruptcy
Creditors' Service, Inc., 215/945-7000)


INTERSTATE BAKERIES: Incurs $5.5 Million Net Loss in January 2006
-----------------------------------------------------------------

           Interstate Bakeries Corporation and Subsidiaries
            Unaudited Consolidated Monthly Operating Report
                  Four Weeks Ended January 7, 2006

REVENUE

Gross Income                                        $204,436,273
Less Cost of Goods Sold
    Ingredients, Packaging, & Outside Purchasing      50,768,359
    Direct & Indirect Labor                           40,607,995
    Overhead & Production Administration              12,596,501
                                                    ------------
       Total Cost of Goods Sold                      103,972,855
                                                    ------------
          Gross Profit                              $100,463,418
                                                    ------------

OPERATING EXPENSES

Owner-Draws/Salaries                                           -
Selling & Delivery Employee Salaries                 $54,032,234
Advertising and Marketing                              3,733,003
Insurance (Property, Casualty, & Medical)             13,212,737
Payroll Taxes                                          4,848,690
Lease and Rent                                         3,559,603
Telephone and Utilities                                1,794,984
Corporate Expense (Including Salaries)                 6,768,500
Other Expenses                                        29,451,131
                                                    ------------
    Total Operating Expenses                        $117,400,882
                                                    ------------
EBITDA                                              ($16,937,464)

Restructuring & Reorganization Charges               (20,529,280)
Depreciation and Amortization                          5,717,337
Other Income                                              (2,959)
Gain/Loss Sale of Property                              (149,286)
Interest Expense                                       4,018,792
                                                    ------------
Operating Income (Loss)                               (5,992,068)

Income Tax Expense (Benefit)                            (423,057)
                                                    ------------
Net Income (Loss)                                    ($5,569,011)
                                                    ============

CURRENT ASSETS
    Accounts Receivable at end of period            $146,899,790
    Increase (Dec.) in Accounts Receivable            (4,109,712)
    Inventory at end of period                        57,828,108
    Increase (Decrease) in Inventory for period       (2,556,645)
    Cash at end of period                            110,169,772
    Increase (Decrease) in Cash for period           (27,318,091)
    Restricted Cash                                   69,186,869
    Increase (Dec.) in Restricted Cash for period     37,834,297

LIABILITIES
    Increase (Decrease) in Liabilities
       Not Subject to Compromise                      (4,053,954)
    Increase (Decrease) in Liabilities
       Subject to Compromise                             424,448
    Taxes payable:
       Federal Payroll Taxes                          10,283,263
       State/Local Payroll Taxes                       6,652,011
       State Sales Taxes                                 677,103
       Real Estate and Personal Property Taxes        15,118,391
       Other                                           6,457,463
                                                    ------------
       Total Taxes Payable                           $39,188,231
                                                    ============

Headquartered in Kansas City, Missouri, Interstate Bakeries
Corporation is a wholesale baker and distributor of fresh baked
bread and sweet goods, under various national brand names,
including Wonder(R), Hostess(R), Dolly Madison(R), Baker's Inn(R),
Merita(R) and Drake's(R).  The Company employs approximately
32,000 in 54 bakeries, more than 1,000 distribution centers and
1,200 thrift stores throughout the U.S.

The Company and seven of its debtor-affiliates filed for chapter
11 protection on September 22, 2004 (Bankr. W.D. Mo. Case No.
04-45814). J. Eric Ivester, Esq., and Samuel S. Ory, Esq., at
Skadden, Arps, Slate, Meagher & Flom LLP, represent the Debtors in
their restructuring efforts.  Kenneth A. Rosen, Esq., at
Lowenstein Sandler, PC, represents the Official Committee of
Unsecured Creditors.  Peter D. Wolfson, Esq., at Sonnenschein Nath
& Rosenthal, LLP, represents the Official Committee of Equity
Security Holders.  When the Debtors filed for protection from
their creditors, they listed $1,626,425,000 in total assets and
$1,321,713,000 (excluding the $100,000,000 issue of 6.0% senior
subordinated convertible notes due August 15, 2014, on August 12,
2004) in total debts.  (Interstate Bakeries Bankruptcy News, Issue
No. 37; Bankruptcy Creditors' Service, Inc., 215/945-7000)


PLIANT CORP: Incurs $8.9 Million Net Loss in January 2006
---------------------------------------------------------

               Pliant Corporation and Subsidiaries
               Consolidated Statement of Operations
                      As of January 31, 2006
                            (Unaudited)

Sales                                               $91,239,000
Cost of sales                                        80,702,000
                                                    -----------
    Gross profit                                     10,537,000

Operating expenses
    Selling, general & administrative                 5,320,000
    Research & development                              718,000
    Restructuring & other costs                               -
                                                    -----------
        Total operating expenses                      6,038,000
                                                    -----------
Operating Income                                      4,499,000

Interest (expense)                                   13,269,000
Other income (expense), net                              16,000
Equity in earnings of subsidiary                              -
                                                    -----------
   Income before income taxes                        (8,786,000)
                                                    -----------
Income tax expense (benefit)                            117,000
                                                    -----------
Net income before discontinued operations            (8,903,000)
   Discontinued operations                                    -
                                                    -----------
NET INCOME (LOSS)                                   ($8,903,000)
                                                    ===========


                Pliant Corporation and Subsidiaries
            Schedule of Cash Receipts and Disbursements
               For the Month Ended January 31, 2006

Receipts
   Total Receipts                                   $91,239,000

Disbursements
   Payroll                                           10,608,000
   Payroll benefits and taxes                         1,872,000
   Raw material                                      59,747,000
   Freight                                            3,501,000
   Packaging                                          3,102,000
   Utilities                                          2,252,000
   Other direct costs                                (3,108,000)
   Administration and selling                         2,935,000
   Other fixed costs                                  2,853,000
                                                ---------------
       Total disbursements                           83,762,000
                                                ---------------
       Cash from operating activities                 7,477,000

   Working capital and other requirements            (4,372,000)

Capital expenditures and interest
   Capital expenditures                              (1,286,000)
   Repayment of capital leases                                -
   Cash interest                                              -
   Income taxes                                               -

   Professional fees                                          -
   U.S. Trustee costs                                         -
   Court costs                                                -
                                                ---------------
Net Cash Flow                                         1,819,000

Cash, January 1, 2006                                 6,910,000

Intercompany transfer                                 2,619,000
                                                ---------------
Cash, January 31, 2006                              $11,348,000
                                                ===============

The Debtors delivered an illegible copy of their unaudited
consolidated balance sheet as of Jan. 31, 2006, to the U.S.
Bankruptcy Court for the District of Delaware.

The Debtors report more than $700,000,000 in total assets, which
includes more than $11,000,000 in cash and cash equivalents.

The Debtors also posted over $1,000,000,000 in total liabilities,
with the current liabilities aggregating less than $100,000,000.

A full-text copy of the Debtors' Monthly Operating Report for the
period ending January 31, 2006, is available for free at:

              http://researcharchives.com/t/s?6a6

Headquartered in Schaumburg, Illinois, Pliant Corporation --
http://www.pliantcorp.com/-- produces value-added film and
flexible packaging products for personal care, medical, food,
industrial and agricultural markets.  The Debtor and 10 of its
affiliates filed for chapter 11 protection on Jan. 3, 2006
(Bankr. D. Del. Lead Case No. 06-10001).  James F. Conlan, Esq.,
at Sidley Austin LLP, and Edmon L. Morton, Esq., and Robert S.
Brady, Esq., at Young, Conaway, Stargatt & Taylor, represent the
Debtors in their restructuring efforts.  The Debtors tapped
McMillan Binch Mendelsohn LLP, as their Canadian bankruptcy
counsel.   The Ontario Superior Court of Justice named RSM
Richter, Inc., as the Debtors' information officer in their
restructuring proceeding under Companies Creditors Arrangement Act
in Canada.  As of Sept. 30, 2005, the company had $604,275,000 in
total assets and $1,197,438,000 in total debts.  (Pliant
Bankruptcy News, Issue No. 8; Bankruptcy Creditors' Service, Inc.,
215/945-7000)


TOWER AUTOMOTIVE: Incurs $15 Million Net Loss in January 2006
--------------------------------------------------------------

             Tower Automotive, Inc. and Subsidiaries
              Unaudited Consolidated Balance Sheets
                     As of January 31, 2006
                          (In Thousands)

CURRENT ASSETS:
   Cash and cash equivalents                             $1,957
   Accounts receivable, net                             235,359
   Inventories                                           65,752
   Prepaid tooling and other                             57,336
                                                     ----------
      TOTAL CURRENT ASSETS                              360,404
                                                     ----------

   Property, plant and equipment, net                   541,172
   Investment in joint ventures                               -
   Investment in subsidiaries                           744,602
   Inter-company receivables                                  -
   Other assets, net                                     59,281
                                                     ----------
      TOTAL ASSETS                                   $1,705,459
                                                     ==========


CURRENT LIABILITIES NOT SUBJECT TO COMPRISE:
   Current maturities of long-term debt                 $14,257
   Accounts payable                                     160,330
   Accrued liabilities                                  150,956
                                                     ----------
      TOTAL CURENT LIABILITIES                          325,543
                                                     ----------
   Liabilities subject to comprise                    1,140,322

   Non-Current Liabilities Not Subject to
    Compromise:

      Long-term debt, net of current maturities          84,754
      DIP borrowings, net of current maturities         578,500
      Other non-current liabilities                     130,502
                                                     ----------
      TOTAL LIABILITIES                               2,259,621

      STOCKHOLDERS' DEFICIT                            (554,162)
                                                     ----------
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT          $1,705,459
                                                     ==========


             Tower Automotive, Inc. and Subsidiaries
                Unaudited Statement of Operations
                       January 1 to 31, 2006
                          (In Thousands)

Revenues                                               $129,621
Cost of sales                                           129,013
                                                     ----------
Gross profit                                                608

Selling, general and administrative expenses              7,418
Restructuring and asset impairment charges, net            (326)
                                                     ----------
Operating income (loss)                                  (6,484)

Interest expense                                          5,904
Interest income                                          (2,028)
Other income                                                  -
Chapter 11 and related reorganization items               4,571
                                                     ----------
Income (loss) before provision for income taxes,
   equity earnings and minority interest                (14,931)

Provision (benefit) for income taxes                        211
                                                     ----------
Income (loss) before equity in earnings                 (15,142)

Equity in earnings of joint ventures, net of tax             60
                                                     ----------
NET LOSS/(INCOME)                                      ($15,082)
                                                     ==========


             Tower Automotive, Inc. and Subsidiaries
                Unaudited Statement of Cash Flows
                      January 1 to 31, 2006
                          (In Thousands)

OPERATING ACTIVITIES:
   Net loss                                            ($15,082)

   Adjustments required to reconcile net loss to net
    cash provided by (used in) operating activities:

      Chapter 11 & related reorganization expenses        2,970
      Restructuring and asset impairment, net                 -
      Depreciation                                        8,062
      Equity in earnings of joint ventures, net             (60)
      Change in working capital and operating items     (39,804)
                                                     ----------
      Net cash used in operating activities             (43,914)
                                                     ----------
INVESTING ACTIVITIES:
   Capital expenditures                                  (2,487)
                                                     ----------
      Net cash used for investing activities             (2,487)
                                                     ----------

FINANCING ACTIVITIES:
   Proceeds from prepetition borrowings                       -
   Repayments of prepetition borrowings                       -
   Borrowings from DIP credit facility                   97,500
   Repayments of borrowings from DIP credit facility    (50,000)
   Net proceeds from issuance of common stock                 -
                                                     ----------
      Net cash provided by financing activities          47,500
                                                     ----------
Net Change in cash and cash equivalents                   1,099
                                                     ----------
Cash and Cash Equivalents, beginning of period              858

Cash and Cash Equivalents, end of period                 $1,957
                                                     ==========

Headquartered in Grand Rapids, Michigan, Tower Automotive, Inc.
-- http://www.towerautomotive.com/-- is a global designer and
producer of vehicle structural components and assemblies used by
every major automotive original equipment manufacturer, including
BMW, DaimlerChrysler, Fiat, Ford, GM, Honda, Hyundai/Kia, Nissan,
Toyota, Volkswagen and Volvo.  Products include body structures
and assemblies, lower vehicle frames and structures, chassis
modules and systems, and suspension components.  The Company and
25 of its debtor-affiliates filed voluntary chapter 11 petitions
on Feb. 2, 2005 (Bankr. S.D.N.Y. Case No. 05-10576 through 05-
10601).  James H.M. Sprayregen, Esq., Ryan B. Bennett, Esq., Anup
Sathy, Esq., Jason D. Horwitz, Esq., and Ross M. Kwasteniet, Esq.,
at Kirkland & Ellis, LLP, represent the Debtors in their
restructuring efforts.  When the Debtors filed for protection from
their creditors, they listed $787,948,000 in total assets and
$1,306,949,000 in total debts.  (Tower Automotive Bankruptcy News,
Issue No. 30; Bankruptcy Creditors' Service, Inc., 215/945-7000).


WINN-DIXIE: Incurs $15.8 Million Net Loss in February 2006
----------------------------------------------------------

                   Winn-Dixie Stores, Inc., et al.
                Unaudited Consolidated Balance Sheet
                        At February 8, 2006
                           (In thousands)

                               Assets

Current assets:
   Cash and cash equivalents                            $89,611
   Marketable securities                                 13,280
   Trade and other receivables, net                     174,694
   Insurance claims receivable                           76,456
   Income tax receivable                                 30,283
   Merchandise inventories, net                         532,097
   Prepaid expenses and other current assets             49,416
                                                   ------------
Total current assets                                    965,837

Property, plant and equipment, net                      542,764
Other assets, net                                       119,323
                                                   ------------
Total assets                                         $1,627,924
                                                   ============

               Liabilities and Shareholders' Deficit

Current liabilities:
   Current portion of long-term debt                       $225
   Current obligations under capital leases               3,989
   Accounts payable                                     260,832
   Reserve for self-insurance liabilities                86,436
   Accrued wages and salaries                            81,261
   Accrued rent                                          29,194
   Accrued expenses                                     121,559
                                                   ------------
Total current liabilities                               583,496

Reserve for self-insurance liabilities                  142,770
Long-term debt                                              244
Long-term borrowings under DIP Credit Facility           40,093
Obligations under capital leases                          5,019
Other liabilities                                        16,817
                                                   ------------
Total liabilities not subject to compromise             788,439

Liabilities subject to compromise                     1,111,610
                                                   ------------
Total liabilities                                     1,900,049

Shareholders' deficit:
   Common stock                                         141,882
   Additional paid-in-capital                            32,461
   Accumulated deficit                                 (411,211)
   Accumulated other comprehensive loss                 (35,257)
                                                   ------------
Total shareholders' deficit                            (272,125)
                                                   ------------
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT          $1,627,924
                                                   ============

                  Winn-Dixie Stores, Inc., et al.
           Unaudited Consolidated Statement of Operations
                 Four Weeks Ended February 8, 2006
                           (In thousands)

Net sales                                              $584,718
Cost of sales                                           433,549
                                                   ------------
Gross profit on sales                                   151,169

Other operating and administrative expenses             163,944
Restructuring gains                                         (5)
                                                   ------------
Operating loss                                          (12,770)

Interest expense, net                                       417
                                                   ------------
Loss before reorganization items and
   income taxes                                         (13,187)
Reorganization items, net expense                         3,420
Income tax expense                                            -
                                                   ------------
Net loss from continuing operations                     (16,607)

Discontinued operations:
   Loss from discontinued operations                       (447)
   Gain on disposal of discontinued operations            1,231
   Income tax expense                                         -
                                                   ------------
Net earnings from discontinued operations                   784
                                                   ------------
Net loss                                               ($15,823)
                                                   ============


                  Winn-Dixie Stores, Inc., et al.
           Unaudited Consolidated Statement of Cash Flows
                 Four Weeks Ended February 8, 2006
                          (In thousands)

Cash flows from operating activities:
   Net loss                                            ($15,823)
   Adjustments to reconcile net loss to
    net cash provided by operating activities:
      Loss on sales of assets, net                           44
      Reorganization items, net expense                   3,420
      Depreciation and amortization                       8,384
      Stock compensation plans                              734
      Change in operating assets and liabilities:
         Trade and other receivables                    (11,944)
         Merchandise inventories                         (8,319)
         Prepaid expenses and other current assets       18,498
         Accounts payable                                14,534
         Reserve for self-insurance liabilities             580
         Lease liability on closed facilities            (3,109)
         Defined benefit plan                               (92)
         Other accrued expenses                           4,729
                                                   ------------
      Net cash provided by operating
       activities before reorganization items            11,636
      Cash effect of reorganization items                (3,198)
                                                   ------------
Net cash provided by operating activities                 8,438

Cash flows from investing activities:
   Purchases of property, plant and equipment            (1,725)
   Decrease in investments and other assets               1,174
   Proceeds from sales of assets                             99
   Purchases of marketable securities                      (293)
   Sales of marketable securities                           267
   Other                                                    (13)
                                                   ------------
Net cash used in investing activities                      (491)

Cash flows from financing activities:
   Gross borrowings on DIP Credit Facility                2,980
   Gross payments on DIP Credit Facility                 (2,888)
   Principal payments on long-term debt                     (18)
   Principal payments on capital lease obligations         (119)
   Other                                                   (133)
                                                   ------------
Net cash used in financing activities                      (178)
                                                   ------------
Increase in cash and cash equivalents                     7,769
Cash and cash equivalents at beginning of period         81,842
                                                   ------------
Cash and cash equivalents at end of period              $89,611
                                                   ============

Headquartered in Jacksonville, Florida, Winn-Dixie Stores, Inc.
-- http://www.winn-dixie.com/-- is one of the nation's largest
food retailers.  The Company operates stores across the
Southeastern United States and in the Bahamas and employs
approximately 90,000 people.  The Company, along with 23 of its
U.S. subsidiaries, filed for chapter 11 protection on Feb. 21,
2005 (Bankr. S.D.N.Y. Case No. 05-11063, transferred Apr. 14,
2005, to Bankr. M.D. Fla. Case Nos. 05-03817 through 05-03840).
D.J. Baker, Esq., at Skadden Arps Slate Meagher & Flom LLP, and
Sarah Robinson Borders, Esq., and Brian C. Walsh, Esq., at King &
Spalding LLP, represent the Debtors in their restructuring
efforts.  Paul P. Huffard at The Blackstone Group, LP, gives
financial advisory services to the Debtors.  Dennis F. Dunne,
Esq., at Milbank, Tweed, Hadley & McCloy, LLP, and John B.
Macdonald, Esq., at Akerman Senterfitt give legal advice to the
Official Committee of Unsecured Creditors.  Houlihan Lokey &
Zukin Capital gives financial advisory services to the
Committee.  When the Debtors filed for protection from their
creditors, they listed $2,235,557,000 in total assets and
$1,870,785,000 in total debts.  (Winn-Dixie Bankruptcy News,
Issue No. 34; Bankruptcy Creditors' Service, Inc., 215/945-7000).

                             *********

Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par.  Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable.  Those sources may not,
however, be complete or accurate.  The Monday Bond Pricing table
is compiled on the Friday prior to publication.  Prices reported
are not intended to reflect actual trades.  Prices for actual
trades are probably different.  Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind.  It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.

Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets.  At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.  
Don't be fooled.  Assets, for example, reported at historical cost
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A list of Meetings, Conferences and Seminars appears in each
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Each Friday's edition of the TCR includes a review about a book of
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Monthly Operating Reports are summarized in every Saturday edition
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For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911.  For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.

                             *********

S U B S C R I P T I O N   I N F O R M A T I O N

Troubled Company Reporter is a daily newsletter co-published
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